#Canada #Montreal #Strategic Resources #Iron Ore #Quebec Pellet Plant

Major Progress in Strategic Resources’ Pellet Plant Project at Port Saguenay, Quebec

Strategic Resources Inc. (TSXV: SR) is excited to inform stakeholders about the substantial advancements regarding its iron ore pellet plant project at Port Saguenay in Quebec. This initiative is crucial for the company as it ventures into developing facilities that promise to leverage local resources sustainably and effectively. The iron pellet plant is aimed at producing up to four million tonnes of iron ore pellets annually, which the company plans to achieve using a combination of green technology and efficient engineering design.

Key Developments

As part of their strategic roadmap, Strategic Resources has identified several leading engineering firms and contractors to conduct the feasibility studies and metallurgical testing required for the pellet feed concentrates. These are critical steps that will lay the groundwork for successful facility production.

Furthermore, the company has submitted all necessary environmental assessments to the Quebec Ministry of Environment (MELCC), seeking amendments to its existing Certificate of Authorization. This regulatory approval is essential for the proposed facility, which aims to harness hydroelectric power—a renewable energy source—coupled with natural gas. The synergy of these resources not only aligns with Quebec’s environmental objectives but also positions the project favorably against competing pellet plant sites across Canada.

The Competitive Edge

Strategic Resources’ decision to build the plant at Port Saguenay is strategic due to its access to economical hydroelectric power and natural gas supplies. The location’s logistical advantages also include its proximity to the Great Lakes and Atlantic shipping routes, offering a competitive edge for exporting iron ore pellets. Such a strategic location enables the company to lower production costs while maximizing its export potential, an important factor in today's global market.

The government review process for the necessary permits is anticipated to span approximately six to nine months. The company is committed to maintaining open communication and cooperation with the regulatory authorities involved, ensuring compliance and a smooth review process throughout.

Advancements and Infrastructure Setup

At present, construction is also progressing with a bi-directional electric pipe conveyor system at the site. This system is designed to facilitate the transportation of iron ore concentrates from third-party suppliers to the pellet plant. As of now, over 30% of the conveyor modules have been successfully installed, signifying considerable momentum towards the project's goals. The completion of this system is crucial for the operational efficacy of the pellet plant and is expected to reach commissioning by the end of 2025.

The planning and establishment of additional infrastructure at Port Saguenay are also underway, grounded by a long-term lease on the core area of the new Port Saguenay Industrial Park. The conveyor infrastructure will not only serve Strategic Resources but will also accommodate the exportation of iron ore pellets under its agreements with Javelin Global Commodities, its marketing partner.

Commitment to Project Management Excellence

In pursuit of operational success, Strategic Resources' management team has emphasized a thorough risk assessment and project review process. Engagements with partners and site visits to analyze Metso's technology—a chosen manufacturer—illustrate their commitment to effective and innovative approaches in developments. With project execution plans continually being refined, the company aims to ensure a seamless rollout, reflecting its dedication to achieving operational excellence.

About Strategic Resources Inc.

Strategic Resources Inc. is a burgeoning critical mineral development company focused on supplying sustainable materials for green steel production. With prospects extending beyond Canada to high-purity iron and vanadium projects in Finland, the company is majorly focused on its flagship BlackRock Project. This project features a fully permitted mine and concentrator site near the St. Lawrence Seaway. In phase one, construction includes a high-capacity iron pelletizer aiming for output of four million tonnes annually.

For more information about the company and for updates on future developments, please visit Strategic Resources or follow their news through social media accounts.

Remember that while the company is optimistic about future prospects, it is essential to be aware of various risks associated with forward-looking statements that may affect project timelines and outcomes.